March 11, 2013
Korea imports 469,000 tonnes of DDGS from US in 2012
Korea has imported more than 505,000 tonnes of dried distillers grains with solubles (DDGS) in 2012, with 469,000 tonnes from the U.S., according to the US Grains Council (USGC).
Despite higher than normal for US market prices this year, Korea was a committed customer to the US. In December 2012, a total of 37,000 tonnes of US DDGS has cleared local customs in Korea, up from 32,000 tonnes in 2011. Even as global competition increases, US DDGS exports to Korea continue to remain strong, now at a 93% market share.
Korea also increased its production of mixed feeds in 2012, producing 18,480 tonnes, an 11% on-year increase and its largest ever. In turn, swine feed production has increased, up 27%, due to the rapid recovery of the hog population from the formidable inventory loss due to the foot-and-mouth disease outbreak in early 2011.
As of December 2012, Korea's swine inventory is at 9.9 million head, its largest ever.